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The Triple Top pattern has formed on the chart of the AUDJPY M5 trading instrument. It is a reversal pattern featuring the following characteristics: resistance level 3, support level -16, and pattern’s width 27. Forecast If the price breaks through the support level 103.98, it is likely to move further down to 104.08.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 103.90/104.11 whereas the upper border goes across 104.25/104.11. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of AUDJPY will breach the upper border to head for 104.26.

The Double Bottom pattern has been formed on AUDJPY M5. This formation signals a reversal of the trend from downwards to upwards. The signal is that a buy trade should be opened after the upper boundary of the pattern 102.86 is broken. The further movements will rely on the width of the current pattern 8 points.

The Double Top pattern has been formed on AUDJPY M5. It signals that the trend has been changed from upwards to downwards. Probably, if the base of the pattern 102.73 is broken, the downward movement will continue.

According to the chart of M5, AUDJPY formed the Bullish Symmetrical Triangle pattern. Description: This is the pattern of a trend continuation. 103.03 and 102.71 are the coordinates of the upper and lower borders respectively. The pattern width is measured on the chart at 32 pips. Outlook: If the upper border 103.03 is broken, the price is likely to continue its move by 103.03.